Deutsche Hypothekenbank (Actien-Gesellschaft)

  • WKN: 804200
  • ISIN: DE0008042003
  • Land: Deutschland

Nachricht vom 02.02.2019 | 22:15

Deutsche Hypothekenbank (Actien-Gesellschaft): Risk provisions at NORD/LB in connection with a significant ship financing portfolio transaction lead to an annual loss and a temporary decrease in capital ratios of NORD/LB.

Deutsche Hypothekenbank (Actien-Gesellschaft) / Key word(s): Corporate Action/Miscellaneous
Deutsche Hypothekenbank (Actien-Gesellschaft): Risk provisions at NORD/LB in connection with a significant ship financing portfolio transaction lead to an annual loss and a temporary decrease in capital ratios of NORD/LB.

02-Feb-2019 / 22:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Deutsche Hypothekenbank (Actien-Gesellschaft) is a wholly-owned subsidiary of Norddeutsche Landesbank - Girozentrale ("NORD/LB") and is closely linked to its parent company by a control and profit and loss transfer agreement and a waiver rule in accordance with Art. 7 (1) CRR and Section 2a (1) of the German Banking Act (KWG). On 02 February 2019 NORD/LB published the following ad hoc announcement:

"At today's meeting of the owners (Trägerversammlung) of Norddeutsche Landesbank - Girozentrale - ("NORD/LB") - the State of Lower Saxony, the State of Saxony-Anhalt, the Association of the Savings Banks of Lower Saxony (Sparkassenverband Niedersachsen) as well as the Holding Association of the Savings Banks of Saxony-Anhalt (Sparkassenbeteiligungsverband Sachsen-Anhalt) and the Special Purpose Holding Association of the Savings Banks of Mecklenburg-Western Pomerania (Sparkassenbeteiligungszweckverband Mecklenburg-Vorpommern) (together referred to as the "Owners" (Träger)) -, the Owners decided, following a detailed evaluation of a joint bid by two financial investors submitted as part of a bidding process, to postpone this option for the time being and to focus on a joint solution with the German Savings Banks and Giro Association (Sparkassen- und Giroverband e.V.) ("DSGV") in the public sector. After representatives of the DSGV and the Owners have discussed the key points of this proposed solution for the capital strengthening and realignment of the bank with the relevant supervisory authorities on 1 February 2019, this solution will be specified in further meetings with the DSGV and must be discussed with the relevant supervisory authorities as well as the EU Commission under aspects of State Aid Law. In light of these forthcoming measures to strengthen the capital base of the bank, the management board of NORD/LB and its Owners have decided in their today's meetings to transfer a significant part of the ship financing portfolio of NORD/LB in a volume of approximately EUR 2.7 billion to an external investor by way of a portfolio transaction. This portfolio contains approximately 90 % of non-performing loans ("NPL"). In addition, the management board of the bank has decided to create a comprehensive additional risk provision for the entire NPL portfolio for the 2018 financial year, resulting in a total risk provision for the 2018 financial year of up to EUR 2.5 billion. Based on the currently available figures for the 2018 financial year, this will result in an annual loss for the NORD/LB group of approximately EUR 2.7 billion after tax. The result in accordance with HGB (German Commercial Code (Handelsgesetzbuch)) for the 2018 financial year will show an annual loss of approximately EUR 2.5 billion after tax. The aforementioned loss for the 2018 financial year will have a corresponding effect on the capital ratios in such a way that the common equity tier 1 capital ratio will decrease to about 6 to 6.5 % and thus the thresholds required by supervisory law will temporarily not be met. The supervisory authority has been informed about this and will request a specific capital plan from NORD/LB in the coming weeks. NORD/LB will draw up such a capital plan on the basis of today's resolution by the Owners with regard to the DSGV's proposed solution and assumes that with the implementation of the measures contained therein for the capital strengthening and realignment of the bank, the capital ratios will again increase significantly and meet all regulatory requirements."

Deutsche Hypothekenbank
(Actien-Gesellschaft)
Osterstraße 31
30159 Hannover

A complete overview of outstanding securities issued by Deutsche Hypothekenbank (Actien-Gesellschaft) is available at the website of Deutsche Hypothekenbank (Actien-Gesellschaft) - at: https://www.deutsche-hypo.de/en/finanzinstrumente
 

02-Feb-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

GBC-Fokusbox

Northern Data AG: „Massiver Anstieg der Nachfrage durch Corona“

Die Frankfurter Northern Data AG (ISIN: DE000A0SMU87) hat sich innerhalb kürzester Zeit eine führende Position als Anbieter von Lösungen im High Performance Computing (HPC) erarbeitet. „Wir sprechen bereits heute von einem Markt im mittleren zweistelligen Milliardenbereich mit enormem Wachstum. Der gesamte Bereich explodiert nachfragemäßig vor unseren Augen“, erläutert CEO Aroosh Thillainathan im Financial.de-Interview. Pro Gigawatt peilt er einen Umsatz zwischen 400 und 500 Mio. Euro pro Jahr an, bei einer Bruttogewinnmarge von 40 bis 50 Prozent.

GBC-Fokusbox

MBH Corporation. Hohes Kurspotenzial

Die MBH Corporation plc hat in den vergangenen Berichtsperioden eine sehr hohe M&A-Aktivität aufgezeigt. Unter Anwendung der so genannten Agglomeration Methodology hat die Beteiligungsgesellschaft branchenübergreifend seit 2018 11 Beteiligungen erworben. Bei einem Pro-Forma-Umsatz der Beteiligungsgesellschaften von über 120 Mio. GBP und einem Pro-Forma-EBITDA in Höhe von über 11 Mio. GBP weist die MBH derzeit eine Marktkapitalisierung von umgerechnet gerade einmal 19,8 Mio. GBP auf. Ausgehend vom aktuellen Aktienkurs liegt zu unserem Kursziel in Höhe von 1,95 € ein hohes Kurspotenzial vor

News im Fokus

U.S. Supreme Court Upholds Nitric Oxide Patent Win for Linde; Linde Commits to Support Inhaled Nitric Oxide Clinical Studies Relating to COVID-19

08. April 2020, 13:59

Aktueller Webcast

SeaChange Corporation

Fourth Quarter Fiscal Year 2020 Results

06. April 2020

Aktuelle Research-Studie

SPORTTOTAL AG

Original-Research: SPORTTOTAL AG (von Montega AG): n.a.

08. April 2020